Samsung Electronics Co. emerged as the world's sixth most valuable brand in the world, the company said Monday on the back of its innovative products and strong presence in the chip industry.

Citing the data compiled by US industry tracker Interbrand, Samsung Electronics made the top ranking list this year, moving a notch up from a year earlier.

The company's brand value also moved up 9 percent on-year to $56.2 billion, it added.

(Yonhap)

Samsung said Interbrand praised its transparent communication, which allowed the company to overcome last year's Galaxy Note 7 crisis. The production of the ill-fated phablet was suspended in late 2016 due to faulty batteries.

The company's cutting-edge products, including the Galaxy S8 smartphone and The Frame TV, also helped Samsung bolster its reputation among consumers.

Interbrand also claimed Samsung expanded its competitiveness by making a timely investment in the chip segment, the company said.

The US researcher announces the world's top 100 brands based on companies' financial health and their brand competitiveness.

Samsung Electronics' brand value was estimated at $23.4 billion in 2011, with its ranking standing at 17th place. (Yonhap)